The Political Economy of Phasing-Out Fossil Fuels

Abstract

Under most decarbonization scenarios roughly two thirds of the world’s fossil fuel reserves would be ‘unburnable’ which would represent a significant structural shift in the global energy system. This makes political strategies for the phasing-out of fossil fuels an essential element of fighting climate change. At the same time, such strategies are strongly contested and face strong resistance from incumbents as well as affected populations. This panel explores the political economy of phasing-out in different country contexts.